W2 Individual Assignment - Brandi

W2 Individual Assignment - Brandi - Class, I provide these...

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Class, I provide these guides so you can spend most of your time working with the numbers. But, I want you to learn about layouts and formats at the same time. So, be sure you include $$$ signs and percentage signs where applicable. It's important for your readers to know if you are talking about money, units or percentages. And use proper indentation on journal entries. Concerning essay type questions/exercises - I offer no guidance other than to indicate an approximate number of words that it will take to do an adequate job. EXERCISE 2-6 (a) (1) The source documents are: Direct materials……………………. materials requisition slips Direct labor…………………………. labor time tickets Manufacturing overhead………… predetermined overhead rate (2) Show your work: $1,362 ÷ $1,360 = 120% (total manufacturing overhead ÷ total direct labor) What is the percentage?. ............ 120% (3) The total cost is: Direct materials……………………. $4,828 Direct labor…………………………. $1,360 Manufacturing overhead………… $1,632 $7,820 The unit cost is $3.91 ($7,820 ÷ 2,000). $3.91 (b) Jul 31 Finished Goods Inventory $7,820 Work in Process Inventory $7,820 The predetermined overhead rate is 120% of direct labor cost. For example, on July 15, the computation is $528 ÷ $440 = 120%.
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W2 Individual Assignment - Brandi - Class, I provide these...

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